Market Overview
Home Prices in Lynwood, IL
The median home value in Lynwood, IL is $282,994 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0.7% compared to a year ago and up 1.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Lynwood are priced31% below average. Lynwood is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Lynwood home values have risen by approximately22.6%, reflecting strong long-term appreciation in this market.
Price History
Lynwood Home Price Trend
City Comparison
Lynwood vs. National Median
At $282,994, homes in Lynwood cost 31% below the national median of $410,000. This makes Lynwood a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Lynwood?
20% Down Payment
$56,599
on $282,994
Monthly P&I
$1,476/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,875/mo
incl. taxes & insurance
Income Needed
$75,000
gross annual (30% rule)
10% Down Option
$28,299
+ PMI applies
Loan Amount (20% dn)
$226,395
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Lynwood, IL?
The median home value in Lynwood is $282,994 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0.7% year-over-year.
How much have home prices changed in Lynwood?
Over the past year, home values in Lynwood have increased by 0.7%. Over five years, prices have risen approximately 22.6%.
How much do I need to earn to buy a home in Lynwood?
To comfortably afford the median home price of $282,994 with a 20% down payment ($56,599) at today's rates (6.8%), you'd need a gross annual income of approximately $75,000. This assumes keeping total housing costs at or below 30% of gross income.
How does Lynwood compare to the national average home price?
The national median home value is approximately $410,000. At $282,994, homes in Lynwood are 31% below the national average.
What metro area is Lynwood part of?
Lynwood is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.